Maxim Group Issues Positive Forecast for NeoVolta (NASDAQ:NEOV) Stock Price

NeoVolta (NASDAQ:NEOV) had its target price hoisted by research analysts at Maxim Group from $4.75 to $7.50 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Maxim Group’s price target points to a potential upside of 44.23% from the company’s current price.

NeoVolta Trading Up 1.8 %

NEOV stock opened at $5.20 on Wednesday. NeoVolta has a 12-month low of $0.63 and a 12-month high of $6.11. The firm has a 50 day moving average of $3.37 and a 200-day moving average of $2.91.

NeoVolta (NASDAQ:NEOV) last announced its earnings results on Friday, November 8th. The company reported ($0.03) earnings per share for the quarter. The firm had revenue of $0.59 million during the quarter. NeoVolta had a negative net margin of 114.93% and a negative return on equity of 58.84%.

Hedge Funds Weigh In On NeoVolta

An institutional investor recently bought a new position in NeoVolta stock. Centennial Wealth Advisory LLC acquired a new position in shares of NeoVolta Inc. (NASDAQ:NEOV) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 10,100 shares of the company’s stock, valued at approximately $31,000. 5.11% of the stock is currently owned by institutional investors and hedge funds.

About NeoVolta

NeoVolta Inc designs, manufactures, and sells energy storage systems in the United States. It provides NV14, NV14-K, and NV 24 energy storage systems, which stores and uses energy through batteries and an inverter at residential or commercial sites. The company markets and sells its products directly to certified solar installers and solar equipment distributors.